Hua Er Jie Jian Wen·2025-11-04 00:03Core Insights - Starbucks has announced the sale of majority control of its China business to Hong Kong private equity firm Boyu Capital for $4 billion, marking a significant strategic shift in its operations in the world's second-largest market [1] - Boyu Capital will hold up to 60% of the equity in Starbucks' 8,000 stores in China, while Starbucks retains 40% and continues to own the brand [1] - The total value of Starbucks' retail business in China exceeds $13 billion, with the deal including the value of the equity sold, retained interests, and future licensing fees [1] Group 1 - The transaction is part of Starbucks' strategy to expand its presence in China, with plans to grow to as many as 20,000 stores, surpassing its current number of stores in North America [1] - CEO Brian Niccol emphasized that Boyu Capital's local expertise will accelerate growth in China, particularly in smaller cities and new regions [1]